Business Summary 2021/22

Taken from the Annual Report: 52 weeks ended 29^th January 2022.

The Society’s gross takings have decreased by 3.2% (on a 52-week comparison) or by 12.7% across 2 years.

Food: Gross takings of core products have increased by 4.4% on a year-on-two-year like for like basis, having continued to benefit as covid restrictions kept many people local.

Department Stores: Gross takings have declined by 40.1% on a year-on-two-year basis, with the Division closed for just under 20% of the year.

Travel: Gross takings on a year-on-two-year basis are 86.6%, demonstrating the impact of Covid on international travel and the Division.

Funerals: Gross takings have increased by 1.0% on a year-on-two-year basis.

Prospects: As we move out of the Covid pandemic, the Society faces a new set of challenges, from changes in customer shopping habits coming out of the pandemic, into a cost-of-living crisis, with inflationary pressure and immense energy and fuel cost rises. However, the Board remains confident that the Society can provide long-term benefit to our members.

Full report below.